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Actuaries institute to increase professionals
Sunday September 23, 2012 07:38:46 PM,
IANS
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Chennai: With the
demand for actuaries exceeding their supply, the Institute of
Actuaries of India (IAI) plans to increase special coaching
classes for students who are about to pass the course.
The IAI also plans to increase subject counselling sessions to
hike the number of actuaries in the market, said a top official.
"We will increase the number of special classes for students who
are on the last lap of the actuarial course. We also looking at
increasing the number of counselling sessions for students to
clear the exams," M. Karunanidhi, the new president of IAI, told
IANS over phone from Mumbai.
Actuaries are experts in assessing the financial impact of future
events, which is of prime importance in the insurance business.
They analyse the past and forecast the future and place the
results in financial terms to help in decision-making.
Karunanidhi, 39, Saturday was elected the new president of the IAI,
the governing body for the actuarial profession in India. He was a
unanimous choice at the IAI's executive council meeting held in
Mumbai Saturday.
Karunanidhi is the youngest president of IAI.
"My approach will be a consultative one. I will look up to senior
actuaries for views and suggestions to take the IAI's vision and
mission forward. The primary focus will be on getting more
students a qualified actuary," Karunanidhi said.
He said India is a good destination for actuarial back office work
for overseas companies.
IAI has over 8,260 members, out of which over 7,860 are students.
Against this, there are just 246 qualified actuaries/fellows who
are members of IAI. Currently, there are 27 non-life insurance
companies in India and 24 life insurers in India.
The other new office bearers of IAI are K.S. Gopalakrishnan, vice
president, and Rajesh Dalmia, honorary secretary.
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